According to this reported From Bloomberg, Sam Bankman-Fried’s requestco-founder of FTX, to obtain documents from law firm Fenwick & West LLP, as part of defense strategy in a federal fraud casedenied. Bankman-Fried, these documents He was entrusted with legal counsel while carrying out the activities for which he is currently on trial.
Recently, Bankman-Fried’s legal team appealed to the presiding judge, urging the prosecutor to hand over documents received from Fenwick & West or allow them to be retrieved directly via a subpoena. But, District Judge Lewis Kaplan denied the request.call it one “Fishing expedition” unfair
THEMBankman-Fried’s legal team wanted to claim that they relied on advice provided by law firm Fenwick & West.. Bloomberg pointed out that this strategy is often used by criminal defenders against charges of willful breach of the law brought by prosecutors.
Fenwick & West’s consulting handled a variety of topics, including the use of encrypted messaging apps, multi-million dollar loans to FTX administrators, and compliance with US banking regulationswhich Bankman-Fried’s lawyers argue is an integral part of the charges against their client.
banker-fried, facing two criminal cases, accused of orchestrating a complex fraud scheme involving the embezzlement of billions of dollars in FTX client funds. The funds are allegedly used for high-risk investments, personal expenses, and even political donations.
On June 22, FTX filed a lawsuit in the United States District Court for the District of Delaware. With the goal of recovering more than $700 million by investment companies affiliated with the company. about the reason K5 Global, Mount Olympus Capital And SGN Albany Capital, with its affiliates and Michael Kives And Bryan Baum, co-owners of K5. FTX claims the funds were transferred from its subsidiary, Alameda Researchto these organizations through front companies. requests to recover funds as avoidable transactions.